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BitMEX Crypto Exchange to Pay $100 Million to Settle Probes

  • Penalty resolves investigations from U.S. CFTC and FinCen
  • Trading platform neither admitted or denied agencies’ claims
Alexander Hoptner, chief executive officer of 100x.

Alexander Hoptner, chief executive officer of 100x.

Photographer: Paul Yeung/Bloomberg
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A group of companies that operated the BitMEX crypto exchange will pay $100 million to settle allegations that they allowed years of illegal trades and violated anti-money laundering rules, resolving one of the first big cases in an emerging U.S. crackdown on digital tokens.

BitMEX broke regulations by letting U.S. residents trade cryptocurrency derivatives from at least November 2014 through October 2020, the Commodity Futures Trading Commission said in a Tuesday statement. The trading platform’s backers also settled claims from the Financial Crimes Enforcement Network that they didn’t adhere to the Bank Secrecy Act and failed to report suspicious transactions to American authorities.